18 Jan Technip and FMC complete mega-merger
Technip and FMC Technologies completed a reported US$13 billion merger on Tuesday, creating the world’s largest offshore energy services company.
It is reported that Technip and FMC Technologies combined their capabilities to unlock the potential of technology innovations, leaner operating structure and integrated solutions.
The new entity TechnipFMC will combine FMC’s expertise in subsea equipment manufacturing and technology and Technip’s leadership in deep-water engineering and equipment installation, analysts said.
The deal was announced in May last year but wasn’t completed until all regulatory barriers in the US and Europe had been cleared.
TechnipFMC will keep three headquarters in Houston, Paris and London. FMC’s Doug Pferdehirt will become the new company’s CEO with former Technip chairman and CEO Thierry Pilenko taking the role of executive chairman.
Creative consultancy Lippincott has been appointed to develop TechnicFMC’s vision, purpose and identity.
The vision of the new entity is designed to strengthen its position in a depressed market and ‘enhance the performance of the world’s energy industry’.